Fear and loathing in Washington; New goodies at Borgata

By David McKee ~ March 4th, 2015 @ 1:58 pm No Comments »

Sheldon Adelson sock puppet Rep. Jason Chaffetz (R) would be holding his much-ballyhooed hearing on Internet gambling today, had Mother Nature not intervened and forced a postponement. When it Chaffetzhappens, it’ll be pretty much the kangaroo court you’d expect. His star witness is rabid and troglodytic University of Illinois boffin John Kindt, who has advocated for the federal seizure of all tribal casinos on the grounds of “allegations of misuse, non-accounting, and even malfeasance involving gambling revenues in Native American operations.” Blithely ignoring tribal sovereignty, he would convert them to “educational, cultural, and business facilities.”

But Kindt doesn’t just reserve his wrath for aboriginals. Known for his dodgy research claims, Kindt idolizes the anti-gambling policies of Vladimir Putin and advocates the criminalization of gaming. Compared to the despot-idolizing Kindt, the other witnesses are practically Continued >>

Fly the friendly slots; New tax takes aim at slot routes

By David McKee ~ March 4th, 2015 @ 12:40 pm No Comments »

Unlike most states, Maryland hasn’t hit the saturation mark and a bill to put a slot route into Thurgood Marshall Airport will probably have little effect on that. The slots will Great_Seal_of_Maryland_reverseonly be accessible to ticketed passengers, with the idea being to ‘tax’ out-of-state travelers for Free State infrastructure improvements. Not only has the airport stopped opposing the concept but the House Ways & Means Committee has new 13 members, at least some of whom could be receptive to the idea, which has been killed annually for the last six years, like some sort of legislative skeet shoot.

According to the Baltimore Sun, the city’s airport would — if the legislation is passed — have more slot machines than McCarran International Airport. Look to thy laurels, Continued >>

Naughtiness at Las Vegas Sands; Caesars makes bankruptcy plan official

By David McKee ~ March 4th, 2015 @ 11:50 am No Comments »

Sands China could have some stateside problems. Judge Elizabeth Gonzalez is mulling whether or not to slap Sands’ wrist for tampering with evidence. The documents in question Sands Cotaiare part of a wrongful-termination lawsuit brought by former Sands China CEO Steven Jacobs, a case entering its hit sixth year. Gonzalez ordered that documents not be redacted but Sands, which often takes a high-handed attitude toward the judicial process, did it anyway, having hid the material in question for two years.

“We are here today because of a long series of misrepresentations,” said Jacobs’ attorney, Todd Bice, in support of the potential sanctions. Gonzalez also decreed the Macao Personal Data Protection Act irrelevant to the case. Sands General Counsel David Fleming countered that Continued >>

Caesars’ wheel of pain

By David McKee ~ March 3rd, 2015 @ 2:30 pm 3 Comments »

“Loveman ‘fascinated’ by complexities of High Roller,” read one of today’s headlines. Perhaps he ought to be more fascinated by the complexities of Caesars Entertainment‘s Linq revisedbankruptcy, of which he is the undisputed architect. The company announced quarterly earnings yesterday, losing a mere billion dollars compared to last year’s $1.76 billion, helped by $9 million in unspecified cost cuts. The blow was softened by a 6% increase in revenue, though not much of that was attributable to gambling win, up 2%. Dining and drinking (+9%) and hotel rooms (+5%) were stronger drivers of financial performance. If there’s one thing Caesars has been successful at, it’s been in rebranding the “Four Corners” of the Las Vegas Strip as a dining/shopping/sightseeing destination, as the quarterly figures imply.

Caesars also credited “continuing strength in the company’s interactive business, new Continued >>

Further Reading

Fear and loathing in Washington; New goodies at Borgata

Fly the friendly slots; New tax takes aim at slot routes

Naughtiness at Las Vegas Sands; Caesars makes bankruptcy plan official

Caesars’ wheel of pain

New problem for Straub; Broad casino push in Florida

Macao in freefall; A RAWA deal

First big hurdle in Indiana cleared

Caesars quits Ohio; Adelson’s Iran problem

Straub’s new plan for Revel; Elaine Wynn gets rude treatment

Las Vegas’ robust January; Measles in a casino

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